Qatar Investment Authority co-finances Elon Musk Twitter purchase – Details

Billionaire and businessman Elon Musk raised $7.14 billion in funds from a group of investors, among them; Qatar Holding and Larry Ellison, co-founder of Oracle Corp and Sequoia Capital, reportedly funded his Twitter acquisition for $44 billion, according to reports on Thursday.

A number of global financial firms participated in the financing process, including Fidelity Investments, Brookfield Asset Management, and Lawrence J. Ellison Fund, the largest contributor of $1 billion.

According to a Bloomberg Network report, Musk succeeded in persuading the world’s largest investor to fund the deal, the largest in the history of acquisitions in the technology industry. Deposits on Thursday saw Qatar Holding’s $375 million partnership with the Qatar Investment Authority.

Regarding Qatari funding, the leaks said the Qataris conditioned Elon Musk’s transfer of Twitter’s regional headquarters from Dubai to Doha in exchange for funding.

Late last month, Mask sold about 9.6 million shares in Tesla Electric Car, worth about $8.5 billion. The move flooded the electric car shares, prompting the billionaire to reassure shareholders that he did not plan to sell more of the company’s shares.

Twitter shares rose 2.3% in market trading, following discussions Musk had with Twitter founder Jack Dorsey about some of his shares in the takeover.

The company also said its previously announced margin loan for the deal was reduced to a total of $6.25 billion from $12.5 billion.